QMI Agency

The New Jersey Devils are on the brink, according to the New York Post, which reported Monday that the team has defaulted on a loan.

All this after the Newark-based club restructured its debt just six months ago.

Devils Arena Entertainment, which operates the Prudential Center, home of the Devils, reportedly owes lenders close to $170 million.

“How can you do a restructuring Dec. 31 and default in April?” a source with knowledge of the proceedings told the Post.

“It’s astounding.”

Last year, Devils owner Jeff Vanderbeek combined his team’s debt with that of Devils Arena in an effort to stabilize the team’s finances over multiple years.

But that was before the impact of the eventual 113-day lockout was fully felt. It didn't help the team failed to reach the post-season.

To make matters worse, Devils Arena, according to the report, is having a difficult time booking non-hockey events due to the close proximity of a number of new venues, including Brooklyn’s Barclays Center.

While the NHL told the Post the report was false, they failed to provide specifics.

The Post’s source went on to say that Vanderbeek now has until the summer to sort through the club’s financial issues.